Thursday, Progressive Gaming International Corp.(PGICD), a supplier of integrated casino and jackpot management systems, said that its Chief Executive Officer Russel McMeekin resigned to pursue other opportunities and Terrance Oliver has been named the Interim President and CEO, effective immediately.
The company also said that it would fall short of its previously projected 2008 financial guidance for revenues, adjusted earnings and gross margins.
Oliver, who had earlier served as the Chairman of the Board of Directors, said that in response to the difficult market conditions on the gaming industry, the company would aggressively address various cost-cutting measures, before the end of third quarter.
Currently, the stock is down $0.55, trading at $1.90 on the Nasdaq.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.